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The South America energy bar market is expected to reach USD 609.41 million by 2023 witnessing a healthy CAGR during the forecast period 2018-2023. The South America energy bar sale crossed 24 million Kg in 2017 recorded significant growth during the past five years.
Rising health & wellness trend demanding low-calorie health food, consumer preference for snacking and on-the-go convenient packaging are various factors fueled the energy bar market growth. Expanding distribution channel such supermarkets, hypermarkets in Argentina and Colombia are further accelerating the growth of energy bars. Economic inflation resulted in slow volume growth of energy bar. Increased retail value growth is mostly attributed to changing currency rates. Competition from cereal and biscuits are various factors affecting the market sale.
High Protein Snack Trend
Snack consumption pattern in South America is shifting from high-calorie snack to protein-rich snack owing to rising health consciousness. Consumers prefer to snack driven mainly by busy lifestyle and working population. The concept of high protein in the snack is still underdeveloped due to low consumer awareness about the benefits of protein. Increased obesity in the region is another major factor driving the nutritional bar sale. Consumers are increasingly becoming health conscious when it comes to bite in between meals. Nutrition along with indulgence are accelerating energy bar demand in the region. Featuring healthy benefit with convenience and nutritional component while on-the-go snacking fueled the nutrition bar market. Granola and muesli bar is the most significant category followed by other cereal bars. Consumer’s interest in cereal and baked product provides a good pace for protein-rich snacks, by mixing grains, offers a potential energy bar market opportunity. Consumer demand for all natural and clean label claim has fueled market growth. About 55% of consumers prefer to buy snacks with “all natural” claim, while around 45% looks for “high fiber” snack products.
Supermarket Leading Sales
The energy bar is growing at a faster rate in the region, owing to rising interest in protein-rich snacks. Brazil dominates the energy bar market in the region, which is followed by Colombia and Argentina. Health and wellness-focused energy bar are expected to grow significantly as compared to traditional energy bars. Expanding retail distribution channel and growing healthy snack awareness in Colombia and Peru is slowly driving the energy bar market. Supermarket/hypermarket led the sale in the distribution channel. Extensive product offering with multiple brands in supermarkets are attracting consumers for an impulse purchase.
Key Developments
October 2017 - Kellogg’s company reported an increase in the sale after its acquisition of Brazilian Food Company Parati Group, which was the leading snack company in Latin America. This acquisition resulted in the strategic expansion of Kellogg’s in an emerging market with a strong presence
The South America Energy bar is concentrated among international players occupying a major share in the market. Innovation in product development focusing on exotic flavors and combination of healthy grains are expected to boost the sale. Acquisition and partnership is another key strategy adopted by major players to expand its brand presence.
Major Players - THE KELLOGG COMPANY, NESTLÉ S.A, THE HERSHEY COMPANY., PEPSICO, INC., GENERAL MILLS, INC. amongst others.
Reasons to Purchase this Report
Analyzing the outlook of the market with the recent trends and Porter’s five forces analysis
Market dynamics, along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
Regional & country level analysis integrating the demand and supply forces that are influencing the growth of the market.
Market value (USD Million) and volume (Kg Million) data for each segment and sub-segment
Distribution Channel sales Analysis by Value
Competitive landscape involving the market share of major players, along with the new product launch and strategies adopted by players in the past five years
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategy employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel
Customization of the Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs
Rising health & wellness trend demanding low-calorie health food, consumer preference for snacking and on-the-go convenient packaging are various factors fueled the energy bar market growth. Expanding distribution channel such supermarkets, hypermarkets in Argentina and Colombia are further accelerating the growth of energy bars. Economic inflation resulted in slow volume growth of energy bar. Increased retail value growth is mostly attributed to changing currency rates. Competition from cereal and biscuits are various factors affecting the market sale.
High Protein Snack Trend
Snack consumption pattern in South America is shifting from high-calorie snack to protein-rich snack owing to rising health consciousness. Consumers prefer to snack driven mainly by busy lifestyle and working population. The concept of high protein in the snack is still underdeveloped due to low consumer awareness about the benefits of protein. Increased obesity in the region is another major factor driving the nutritional bar sale. Consumers are increasingly becoming health conscious when it comes to bite in between meals. Nutrition along with indulgence are accelerating energy bar demand in the region. Featuring healthy benefit with convenience and nutritional component while on-the-go snacking fueled the nutrition bar market. Granola and muesli bar is the most significant category followed by other cereal bars. Consumer’s interest in cereal and baked product provides a good pace for protein-rich snacks, by mixing grains, offers a potential energy bar market opportunity. Consumer demand for all natural and clean label claim has fueled market growth. About 55% of consumers prefer to buy snacks with “all natural” claim, while around 45% looks for “high fiber” snack products.
Supermarket Leading Sales
The energy bar is growing at a faster rate in the region, owing to rising interest in protein-rich snacks. Brazil dominates the energy bar market in the region, which is followed by Colombia and Argentina. Health and wellness-focused energy bar are expected to grow significantly as compared to traditional energy bars. Expanding retail distribution channel and growing healthy snack awareness in Colombia and Peru is slowly driving the energy bar market. Supermarket/hypermarket led the sale in the distribution channel. Extensive product offering with multiple brands in supermarkets are attracting consumers for an impulse purchase.
Key Developments
October 2017 - Kellogg’s company reported an increase in the sale after its acquisition of Brazilian Food Company Parati Group, which was the leading snack company in Latin America. This acquisition resulted in the strategic expansion of Kellogg’s in an emerging market with a strong presence
The South America Energy bar is concentrated among international players occupying a major share in the market. Innovation in product development focusing on exotic flavors and combination of healthy grains are expected to boost the sale. Acquisition and partnership is another key strategy adopted by major players to expand its brand presence.
Major Players - THE KELLOGG COMPANY, NESTLÉ S.A, THE HERSHEY COMPANY., PEPSICO, INC., GENERAL MILLS, INC. amongst others.
Reasons to Purchase this Report
Analyzing the outlook of the market with the recent trends and Porter’s five forces analysis
Market dynamics, along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
Regional & country level analysis integrating the demand and supply forces that are influencing the growth of the market.
Market value (USD Million) and volume (Kg Million) data for each segment and sub-segment
Distribution Channel sales Analysis by Value
Competitive landscape involving the market share of major players, along with the new product launch and strategies adopted by players in the past five years
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategy employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel
Customization of the Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs
Frequently Asked Questions
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